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How an online booking system can boost a dental practice’s revenue (HealthEngine, HotDoc, and Acuity Scheduling)
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In the fast-paced world of modern dentistry, staying ahead means adopting technologies that streamline operations and improve the patient experience. One such game-changer is the implementation of an online booking system. Dental practices of all sizes can benefit from this tool, whether you’re running a small clinic or a multi-million dollar practice.
Online booking systems can directly influence your bottom line by increasing appointment volumes, improving patient retention, reducing no-shows, and opening opportunities for upselling.
This article explores five key ways an online booking system can boost a dental practice’s revenue, with practical insights on how these tools, such as HealthEngine, HotDoc, and Acuity Scheduling, can transform your operations.
1. Increasing appointment volume
Online booking systems allow patients to schedule appointments at their convenience—24/7—without needing to call during office hours. Patients can view real-time availability, which removes barriers to scheduling and increases the likelihood of securing more bookings. This convenience often leads to a surge in appointment volume as patients find it easier to commit to a time that works for them.
Revenue impact: Many dental practices report a 10-30% increase in bookings after adopting online scheduling. For example, a practice generating $5 million in annual revenue could see a 15% increase in appointments, leading to an additional $750,000 in revenue, raising the total to $5.75 million.
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2. Improving patient retention
Automated features, such as appointment reminders, follow-up messages, and the ability to easily rebook appointments, help retain existing patients. Patients are more likely to stay loyal when their interactions with the practice are seamless and easy to manage. Additionally, an online booking platform reduces the chance of missed follow-ups, ensuring patients stick to their recommended treatment plans.
Revenue impact: A 10-20% improvement in patient retention could make a significant difference. If patient retention increases by 10%, for example, a practice could see an additional $500,000 in revenue, bringing total earnings to $5.5 million for a $5 million practice.
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3. Reducing no-shows and cancellations
No-shows and last-minute cancellations can wreak havoc on a dental practice’s daily schedule. Online booking systems come equipped with automated reminders and confirmation features, which help to drastically reduce no-shows. Patients are sent timely reminders via email or SMS, reducing the likelihood of forgotten appointments. In addition, easy rebooking features allow practices to fill cancelled slots quickly.
Revenue impact: By reducing no-shows and cancellations by even 30-50%, a dental practice could recover a substantial amount of lost revenue. For a practice losing 5% of its revenue to no-shows, recovering half of that could add between $125,000 and $250,000 annually.
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4. Creating upselling opportunities through better patient flow
An organised booking system optimises the daily schedule, creating opportunities for offering high-value treatments such as implants, veneers, or cosmetic dentistry. By minimising gaps in the appointment schedule, dentists can use the extra time to upsell premium services or offer additional treatments, which boosts the overall revenue per patient visit.
Revenue impact: If a dental practice increases its revenue by 5-10% through upselling, this could add between $250,000 and $500,000 annually. For a $5 million practice, this would raise total revenue to between $5.75 million and $6 million.
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5. Attracting new patients
A user-friendly online booking system can help attract new patients by enhancing the overall experience and streamlining the onboarding process. Potential patients searching for a dental practice will appreciate the convenience of scheduling an appointment online. Moreover, integrating the system with digital marketing platforms can further increase visibility, attracting more new patients.
Revenue impact: Attracting 200 new patients annually, with each patient contributing an average of $1,000, could add an extra $200,000 in revenue, potentially pushing total revenue to $5.2 million or higher.
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Summary: Maximising revenue with online booking systems
An effective online booking system can be a powerful tool for dental practices looking to grow their revenue and optimise their operations. By increasing appointment volume, retaining patients, reducing no-shows, and enhancing upselling opportunities, practices can see a 5-20% boost in revenue. For a practice with $5 million in annual revenue, these improvements could translate into an additional $250,000 to $1 million, raising total earnings to between $5.25 million and $6 million.
Platforms such as HealthEngine, HotDoc, and Acuity Scheduling offer the functionality needed to achieve these results, helping practices streamline their workflows and better serve their patients.
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